Karachi May 9 2025: Cherat Cement and Shirazi investments showed their intention to acquire majority of the stake in Rafhan Maize Products.
“Rafhan Maize Products Company Limited (the “Target Company”) has received firm intention from Cherat Cement Company Limited and Shirazi Investments (Pvt) Limited (“Acquirer”) to acquire up to 6,991,052 voting shares (representing 75.69% of the paid- up capital) of the Target Company” states company in its filing to the Pakistan Stock Exchange.
“This intention has been notified to the board of directors of the Target Company on May 8, 2025” adds the notification.
Cherat Cement Company Limited and Shirazi Investments (Private) Limited intend to acquire the Target Company through a 50:50 joint holding.
Cherat Cement Company Limited will acquire upto 3,495,526 or 37.845% while Shirazi Investments will also acquire upto 3,495,526 or 37.845%.
Cherat Cement Company Limited is a prominent player in Pakistan’s cement industry. The company is publicly listed on the Pakistan Stock Exchange and is engaged in the manufacturing, marketing, and sale of high-quality cement. With a state-of-the-art production infrastructure and an installed capacity of 4.5 million tons per annum, primarily serving the northern region of Pakistan. CCCL is recognized for its consistent quality standards, operational excellence, and commitment to sustainability.
CCCL also plays an active role in regional trade, exporting cement to Afghanistan, thereby contributing to Pakistan’s export economy. Through its focus on innovation, efficiency, and customer satisfaction, CCCL continues to strengthen its position as a trusted name in the cement sector.
Shirazi Investments (Private) Limited pperates as the investment arm of Atlas Group, a diversified conglomerate with investments in engineering, power, finance, and trading businesses, renowned for its strategic investments and strong governance.
